S.D. Admin. R. 67:46:04:16

Current through Register Vol. 51, page 57, November 12, 2024

Section 67:46:04:16 - Income from trust

The income from a trust that is considered available to the beneficiary is the maximum payment that is permitted under the terms of the trust assuming the full exercise of discretion by the trustee, whether or not that discretion is exercised.

If a trust instrument is not specific as to the beneficiary's ownership interest, the income is divided by the number of owners.

A payment made from the trust to the beneficiary or for the benefit of the beneficiary is income and is considered under the provisions of this chapter.

S.D. Admin. R. 67:46:04:16

20 SDR 92, effective 12/21/1993; 20 SDR 170, effective 4/21/1994; 21 SDR 162, effective 3/23/1995.

General Authority: SDCL 28-6-1.

Law Implemented: SDCL 28-6-1.

Consideration of revocable and irrevocable trusts, § 67:46:05:32.02.